Brookfield Spinning Off Homebuilding Operation
Toronto’s Brookfield Properties Corp. last week said it plans to spin off its homebuilding arm, Orange County’s sixth-largest homebuilder this year.
Brookfield Homes has its Southern California division in Costa Mesa and its land development arm in Santa Ana. Officials say the homebuilder will be headquartered in Del Mar after the spinoff.
Brookfield Homes has offices in the Bay area, Del Mar, Denver, Virginia, Florida and Canada. The company’s shares are set to trade on the New York Stock Exchange.
Through the third quarter, Brookfield built 281 homes in OC for a 5.4% stake of the market, according to San Diego-based Market-Point Realty Advisors.
